According to a report published by Business Insider, the number of ATM fraud cases in a 12 month period, from 2014 to 2015 increased by 546%.

The same report stated that fraud cost U.S. retailers approximately $32 billion in 2014, up from $23 billion just one year earlier.

Today, Sears reported that Kmart has suffered a malware attack on its payments system.

A never ending litany of card fraud data breaches shows the need for strengthened payments security. The biometric hardened security brought inside its credit card will bring stronger security for the benefit of banks and consumers alike, said today SmartMetric's President & CEO, Chaya Hendrick.

Following more than a decade of R&D, SmartMetric has successfully engineered a fully functional fingerprint reader that sits inside the credit card. Simply touching a square sensor on your biometric credit card scans your fingerprint, matches it with your pre-stored fingerprint inside the card and then turns your card on. All in less than a quarter of a second.

SmartMetric will be holding a public phone conference call on Thursday the 10th of August, 2017 at 6pm New York time and 3pm West Coast time.

"More than $3 trillion dollars are transacted annually in the United States using credit cards. Our technology is designed to bring biometric security to the common credit card and in so doing, helping to provide greater payment security for card issuers and users alike," Chaya Hendrick said.

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